Hey Folks,
Yesterday Ethos released a short video of their new 'Universal Wallet' - App , which is highly anticipated by many people.
But at first What is Ethos??
I think this extract of the Ethos Whitepaper ( http://www.ethos.io/Ethos_Whitepaper.pdf ) gives a good overview about their vision:
"Our vision is to create a people-powered new economy services company that makes the cryptocurrency
market accessible and trustworthy to the average user, accelerating adoption of blockchain technology
and democratizing ownership of both digital and traditional assets."
Ethos (ETHOS) or previously Bitquence (BQX) tries to fix some current problems in the cryptocurrency market:
With their app they want to offer an Universal Wallet where substantially all cryptocurrencies or tokens can be hodld / traded or directly sent by using the app , without transaction fee's. In addition you can also exchange your cryptos into FIAT or vice versa. So they also want to bulid a bridge between the old FIAT-currencies and the new cryptocurrencies.
So they'll fix the current problem that you need several platforms to invest, exchange, sent or trade. So you have everything in one app. There is no long registration or waiting for a registration like we had the situation with Binance in the past.
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Like you can see on the picture above , there is the option 'Tax-Friendly Reports'.
This helps you if you have to do you TAX declaration. Instead of time-consuming research which trade you made on which date/time you can just selcet this option to get all the information you need.
With the 'Dynamic Predictions, Ratings & Reviews' option you have directly many opinions, reviews, ratings etc. of the whole community about a selected coin. What's special with this option is that for example you can Follow successful traders by paying them for example a few ethos per month. So you can see what trades this person does and can do the same.
The 'Portfolio Performance Dashboard' gives you a good overview about your current portfolio value and profits.
Instant Coin Basket: If you want invest into crypto while protecting your privacy and identity you can instantly exchange from FIAT into many cryptocurrencies without detours like for example register on coinbase , register on Binance, send to Binance , exchange in desired coin, and all the way back if you want to take your profit.
Also a very positive fact is that there are no hidden Setup fee's or costs and an option for beginners.
And i think this wallet-features overview speaks for itself :
Now enjoy the video
All in all a solid project which , in my opinion, would make things a lot easier and the makes the whole cryptocurrency market more reachable for everybody.
Thanks for reading and have a nice day,
Marcel McMaffel
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Great, ambitious project. A lot of work ahead for them, but I like the concept a lot. I wonder how they will deal with regulatory issues regarding fiat conversions and reserves.
Yes you're right, lot of work to do...
I think regulation will be one of the main topics in 2018 , everybody wants a slice of the cake o.O